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With the report last week of a 27.3 percent drop in the university’s endowment, the Harvard community now knows the true magnitude of the impact the global economic crisis is having on our operations. Here and across the country, university officials are adapting to a “new normal baseline” of funding. But precisely what does that mean to us when Harvard’s apparent baseline is still $26 billion...

Author: By Michael D. Smith | Title: Husbanding Harvard’s Resources | 9/15/2009 | See Source »

Jones also articulates the subtle dangers of the digital age in business settings, which are evolving. "Nobody--and I repeat, nobody--is so important they need to check their PDA during a meeting or lunch," she writes. "The people with whom you're talking need to have 100 percent of your focus." The author is not a fan of texting ("Unless the situation is extremely urgent, text-messaging is not an appropriate way to communicate in a professional setting"); smiley-face emoticons; overly familiar salutations or sign-offs (forget "ciao" and "cheers"); or ungrammatical, unproofread messages. Jones warns that getting...

Author: /time Magazine | Title: Business Books | 9/14/2009 | See Source »

...Working as advisors to the pilots’ union, Keilin and Bloom orchestrated a buyout in which United employees, through their unions, bought a 55 percent stake in the company. The results were staggeringly positive. Worker grievances plummeted while the firm’s productivity and profit margins soared. Previous skeptics appeared to be swayed. BusinessWeek devoted a cover story to the success of worker ownership, including praise from sources as unlikely as a Merrill Lynch analyst and an executive at a rival airline...

Author: By Dylan R. Matthews | Title: Common Equity | 9/14/2009 | See Source »

...United’s buyout was not a fluke. A 2000 Rutgers study showed that worker-owned companies experienced average employment and sales growth that was 2.3 to 2.4 percent higher than non-worker-owned firms. In other words, these companies grow to be on average a third larger than traditionally owned firms over the course of 10 years...

Author: By Dylan R. Matthews | Title: Common Equity | 9/14/2009 | See Source »

...benefits to workers are just as significant. A study conducted by Washington State University found that hourly wages at employee-owned firms were five to 12 percent higher than those at other firms and retirement benefits almost three times greater in value. Employee culture tends to improve in concert. For example, W.L. Gore, the worker-owned firm that manufactures Gore-Tex, has no formal “bosses” and is routinely ranked by Fortune as one of America’s best companies to work...

Author: By Dylan R. Matthews | Title: Common Equity | 9/14/2009 | See Source »

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